Lender looks to fill businesses’ credit void

Opportunities exist for businesses to acquire loans that do not involve the traditional route of applying directly to a bank.

One of those sources of alternative lending is Super G Funding LLC.

The Newport Beach, Calif.-based company is an alternative lender specializing in residual and cash-flow loans.

“The niche for us is to go in either by ourselves or with another lender to get the loan out of the bank,” said Bob Seidenberger, vice president of originations for Super G Funding’s East Coast office.

Seidenberger works out of his home office in South Bethlehem with a goal to open an office elsewhere in the city to establish a stronger presence.

In most cases, Super G Funding offers loans to companies that may have a loan with a bank which might be getting rid of the loan, or with companies unable to acquire a loan from a bank.

Sometimes, a loan deteriorates – when a company has a loan with a bank, can no longer afford to make payments and the bank is looking to dissolve the loan.

Super G Funding also works in conjunction with asset-based lenders, Seidenberger said.

These lenders secure loans with a company’s asset.

“Our specialty is to come in and lend that additional money,” he said. “We take a higher risk.”